Forget May 16, mkt-savvy politicos already winner as scrips up

The outcome of their performance will only be known on May 16 but scores of 16th Lok Sabha aspirants are already winners as they are sitting on hefty returns courtesy their investments in blue-chip stocks with Indian stock market surging to a new high.

The Indian stock markets are on a roll with the benchmark Sensex within sniffing distance of 23,000 mark as investors, including foreign institutions, have bet big on a stable government coming to power when poll results are announced.

Shares of blue-chip firms like Reliance Industries, Reliance Power and TCS appear to be favourite among the rich and the powerful.

The past three months have seen shares like RIL (up 22 per cent), M&M (23 pc), NIIT (28 pc) and CESC (14 pc) log steady returns. RPG Lifesciences has shot up by over 50 per cent. Indiabulls Power, Edelweiss, Reliance Power, HDFC Bank and GMR Infra have risen in 10-30 per cent range.

Another Mumbaikar, Gurudas Kamat, who is eyeing a Lok Sabha seat from Mumbai North-West, and his spouse have share holdings in Edelweiss Financial Services, Facor Alloys, Religare Enterprises and Rishi Laser.